The numbers below tell me that Institutional Investors are invested in the biggest and best names in the Mining Industry. For the Big Miners to rally higher we will need Physical Gold and Silver price to move higher. The opportunity for larger than average gains in is in the smaller miners and explorers/developers. Most of the interesting small companies (Aya Gold and Silver as example) are not followed by many if any analysts. With the smaller companies the risk level / Volatility level is higher as is the opportunity.